Monday, October 13, 2008

Regulator Rehab...Root Out Corruption?

McCain assertion that he will "fight corruption" on The Street. Palin said she and McCain would "get rid of the greed and corruption on Wall Street." Can someone point to specific proposals on how this will be carried out? ProPublica says no specific proposals. Obama flailing away at "eight years of deregulation" under W. Is he being modest? NYT on Greenspan ( points out, deregulation also strong under Clinton.Credit to

Regulators in Need of Rehab - Paulson on 7/20/08: "It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation." May 16: "Looking forward, I expect that financial markets will be driven less by the recent turmoil and more by broader economic conditions."Who will decide which banks receive help and which won’t? What standards will be used? Apparently decisions fall to Neel Kashkari, assistant Treasury secy for financial stability, 35, six years out of B-school.